Indian govt may save over ₹60,000 crore on crude oil imports in FY25

The drop in crude oil prices to USD 70-75 per barrel is expected to result in significant savings for India on its import bill, potentially saving billions annually. This, coupled with India’s all-time high foreign exchange reserves, provides a solid foundation for economic stability and potential investments in infrastructure and social welfare. Despite concerns over a global recession and pending decisions on retail price cuts for petrol and diesel, the overall outlook for the Indian economy remains positive. Oil companies are making profits, and with strong equity markets and a resilient Rupee, India is well-positioned to weather global oil price fluctuations.